(WatchDogReport.org) – The airline industry took a huge hit in 2020. In November, the International Air Transport Association (IATA) predicted a $118.5 billion deficit for the year. The situation isn’t looking great for 2021, either.
Airline industry experts believe it will take years to recover from the COVID-19 slump. The IATA is predicting losses totaling $38.7 billion in 2021. Southwest Airlines CEO Gary Kelly said he’s encouraged by news of a vaccine, but also recognizes the challenges that lie ahead. He said he doesn’t think things will be back to normal by the end of next year because there’s too much uncertainty. However, Kelly said he’s hoping for the best, but planning for the worst.
Others agree the industry might continue experiencing difficulties.
The U.S. is unlikely to see the return of 2019 airline passenger volumes before 2024. Relief is necessary for the #airline industry before December 18. @WeAreALPA pilots and fellow aviation workers are counting on you, @janschakowsky, for relief now!
— Luke Hogan (@lukeishuman) December 15, 2020
The good news for passengers is that could mean ticket prices will remain lower than usual into the next year. For those who are comfortable with the idea of traveling, it might be the perfect time to take a trip.
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